Wool prices stable in New Zealand

New Zealand Wool Services International Ltd reported that 10,700 bales of North Island wool on offer this week comprising a high percentage of shorter Second Shear Wools saw an 85.3 percent clearance with most types firm to slightly easier.

The weighted indicator for the main trading currencies came down 0.46 percent with little impact on the market.

Careful buying by clients and very tight shipping schedules are the main market influences keeping wool prices in a narrow trading band. Fine Crossbred Full Fleece were firm to 1.5 percent easier. Fine Crossbred Long Shears were well contested ranging from firm to 5 percent stronger. Shorter types eased 1 to 2.5 percent cheaper.

Coarse Crossbred Full Fleece generally remained firm. Coarse Second Shears 3/5 to 2/4 inches were firm to 2.5 percent easier with the shorter types lifting by up to 1.5 percent. Coarse Oddments were generally unchanged. Competition came from China, India and United Kingdom principals, supported by Western Europe, Middle East and Australasia.